Solana is currently trading above key demand levels, showcasing resilience after weeks of market uncertainty. However, the altcoin is yet to confirm a breakout from the daily downtrend that began in late November. As SOL continues to hover near critical technical levels, analysts and investors are closely watching for a decisive move that could signal the start of a massive rally into price discovery.
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Top analyst and trader Jelle recently shared a detailed technical analysis on X, highlighting that Solana has reclaimed crucial weekly and monthly support levels. According to Jelle, SOL’s ability to stay above these supports is a strong bullish indicator. This development has fueled optimism among investors who see Solana’s current consolidation as a setup for a significant breakout.
Despite the positive signs, SOL needs to overcome its daily downtrend to confirm a bullish reversal. A clean breakout above this trendline would signal that momentum has shifted in favor of the bulls, setting the stage for a potential rally toward new highs.
As the market sentiment improves and technical indicators align, Solana could soon become a leading asset in the crypto market’s recovery. The coming days will be pivotal in determining whether SOL can capitalize on its strong support levels and push higher.
Solana Holds Key Levels – Breakout Looms
Solana has shown renewed strength in the market, breaking above the critical $180 and $205 levels. This move has reignited investor confidence, with many viewing Solana as a trendsetter poised for further gains. After weeks of market uncertainty, SOL’s ability to reclaim these levels signals a potential bullish resurgence.
Top analyst Jelle recently shared a technical analysis on X, emphasizing Solana’s strong position. He highlighted that SOL is back above crucial weekly and monthly support levels, adding that its current price action suggests readiness to push higher. According to Jelle, Solana’s technical indicators align with the possibility of reaching new all-time highs in the coming weeks.
However, the path forward is not without challenges. Solana remains in a broader bearish structure that began in late November, and a clean breakout is required to confirm the start of a new upward trend. Overcoming this structure would…
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